FAT · As filed with the SEC
Fat Brands income statement, by fiscal year
The statement as Fat Brands presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF OPERATIONS · USD thousands, except per-share amounts
| USD thousands, except per-share amounts | FY2024 Year ended Dec 29, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 25, 2022 | FY2021 Year ended Dec 26, 2021 | FY2020 Year ended Dec 27, 2020 | FY2019 Year ended Dec 29, 2019 | FY2018 Year ended Dec 30, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Royalties | — | — | — | — | 13,420 | 14,895 | 12,097 | — |
| Franchise fees | — | — | — | — | 1,130 | 3,433 | 2,136 | — |
| Store opening fees | — | — | — | — | — | — | 352 | — |
| Advertising fees | — | — | — | — | 3,527 | 4,111 | 3,182 | — |
| Other Income | — | — | — | — | 41 | 66 | 600 | — |
| Total revenue | 592,652 | 480,457 | 407,224 | 118,881 | 18,118 | 22,505 | 18,367 | — |
| Total Costs and Expenses | — | — | — | — | — | — | 5,884 | — |
| Professional Fees | — | — | — | — | — | — | 1,529 | — |
| Public company expense | — | — | — | — | — | — | 1,108 | — |
| Royalties | 90,035 | 94,036 | 87,921 | 42,658 | — | — | — | — |
| Restaurant sales | 413,480 | 299,029 | 241,001 | 41,563 | — | — | — | — |
| Advertising fees | 39,473 | 39,490 | 37,997 | 16,728 | — | — | — | — |
| Factory revenues | 37,949 | 37,983 | 33,504 | 13,470 | — | — | — | — |
| Franchise fees | 6,487 | 4,979 | 3,706 | 4,023 | — | — | — | — |
| Management fees and other income | — | — | 3,095 | 439 | — | — | — | — |
| Other revenue | 5,228 | 4,940 | — | — | — | — | — | — |
| Costs and expenses | ||||||||
| General and administrative expense | 128,564 | 93,117 | 113,313 | 50,249 | 14,876 | 11,472 | 14,131 | — |
| Cost of restaurant and factory revenues | — | — | 221,627 | 44,242 | — | — | — | — |
| Impairment of goodwill and other intangible assets | — | — | — | 1,037 | 9,295 | — | — | — |
| Refranchising loss | — | — | — | — | 3,827 | — | — | — |
| Cost of restaurant and factory revenues | 393,131 | 282,887 | — | — | — | — | — | — |
| Depreciation and amortization | 41,528 | 31,131 | 27,015 | — | — | — | — | — |
| Impairment of goodwill and other intangible assets | 30,600 | 500 | 14,000 | — | — | — | — | — |
| Refranchising loss | 1,949 | 2,873 | 4,178 | 314 | — | — | — | — |
| Acquisition costs | — | 0 | 383 | 4,242 | — | — | — | — |
| Advertising fees | 49,100 | 47,619 | 44,612 | 17,973 | 5,218 | 4,111 | 3,182 | — |
| Selling, General and Administrative Expense | — | — | — | — | — | — | 2,428 | — |
| Refranchising loss | — | — | — | — | — | 219 | — | — |
| Total costs and expenses | 644,872 | 458,127 | 425,128 | 118,057 | 33,216 | 15,802 | — | — |
| (Loss) income from operations | (52,220) | 22,330 | (17,904) | 824 | (15,098) | 6,703 | 4,236 | — |
| Interest expense, net of interest income of $2,128 and $1,125 due from affiliates during the fiscal years ended December 29, 2019 and December 30, 2018, respectively | — | — | — | — | — | (4,757) | (3,816) | — |
| Other (expense) income, net | ||||||||
| Interest expense | (120,580) | (99,342) | (78,477) | (26,864) | (3,375) | (1,773) | (954) | — |
| Depreciation and amortization | — | — | — | — | — | — | (358) | — |
| Interest expense related to preferred shares | — | — | — | — | (1,544) | — | — | — |
| Interest expense related to preferred shares | (17,670) | (18,189) | (16,372) | (2,193) | — | — | — | — |
| Net loss on extinguishment of debt | (1,798) | (2,397) | 0 | (7,637) | (88) | — | — | — |
| Change in fair value of derivative liability | — | — | — | 0 | 887 | — | — | — |
| Gain on contingent consideration payable adjustment | — | — | — | — | 1,680 | — | — | — |
| Gain on contingent consideration payable adjustment | — | — | — | 0 | — | — | — | — |
| Other (expense) income, net | (332) | 1,233 | 5,375 | 750 | (1,011) | (681) | (1,181) | — |
| Total other expense, net | (140,380) | (118,695) | (89,474) | (35,944) | (3,451) | (7,211) | (6,309) | — |
| Loss before income tax benefit | (192,600) | (96,365) | (107,378) | (35,120) | (18,549) | (508) | (2,073) | — |
| Income tax benefit | (2,753) | (6,255) | 18,810 | (3,537) | (3,689) | 510 | (275) | — |
| Net loss | (189,847) | (90,110) | (126,188) | (31,583) | (14,860) | (1,018) | (1,798) | — |
| Basic and diluted loss per common share | — | — | — | — | — | — | (0.16) | — |
| Dividends on preferred shares | (7,779) | (7,007) | — | — | — | — | — | — |
| Net loss available to common stockholders, basic | (197,626) | (97,117) | — | — | — | — | — | — |
| Net loss available to common stockholders, diluted | (197,626) | (97,117) | — | — | — | — | — | — |
| Basic loss per common share (in dollars per share) | (11.60) | (5.85) | (7.66) | (2.15) | (1.25) | (0.09) | — | — |
| Weighted Average Shares Outstanding, Diluted | — | — | — | — | 11,897,952 | 11,823,455 | 10,970,814 | — |
| Diluted loss per common share (in dollars per share) | (11.60) | (5.85) | (7.66) | (2.15) | — | — | — | — |
| Basic weighted average shares outstanding (in shares) | 17,041,888 | 16,599,015 | 16,476,090 | 14,656,880 | — | — | — | — |
| Diluted weighted average shares outstanding (in shares) | 17,041,888 | 16,599,015 | 16,476,090 | 14,656,880 | — | — | — | — |
| Cash dividends declared per common share (in dollars per share) | 0.56 | 0.56 | 0.54 | 0.52 | — | 0.00 | 0.36 | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.